Housing Market Update: New Jersey - September 2025

For residential real estate activity in the state of New Jersey

U.S. existing-home sales were virtually unchanged from the previous month, dipping just 0.2% to a seasonally adjusted annual rate of 4.0 million units, according to the National Association of REALTORS® (NAR). Most of these transactions went under contract in June and July, when mortgage rates were 40 to 50 basis points higher than current levels. Year-over-year, sales increased 1.8%, with the strongest activity occurring in the Midwest, where the typical home price is 22% below the national median.

• Single Family Closed Sales were up 10.1 percent to 5,243.

• Townhouse-Condo Closed Sales were down 2.1 percent to 1,614.

• Adult Communities Closed Sales were up 17.9 percent to 647.

• Single Family Median Sales Price increased 2.8 percent to $585,753.

• Townhouse-Condo Median Sales Price increased 3.6 percent to $435,000.

• Adult Communities Median Sales Price held steady at $370,000.

Nationally, housing inventory declined for the first time this year, slipping 1.3% month-over-month to 1.53 million units, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the monthly drop, total inventory remained 11.7% higher than the same time last year. Meanwhile, the median existing-home price rose 2% year-over-year to $422,600, though it was essentially flat compared to the prior month.

Data as of October 10, 2025. All data from the multiple listing services in the state of New Jersey. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2025 ShowingTime Plus, LLC.